Sec. 03.01.01.02. Petition for Promulgation, Amendment, or Repeal of Regulations

A. An interested person may petition the Comptroller, requesting the adoption of a new regulation under the laws administered by the Comptroller or the amendment or repeal of any existing regulation issued under these laws.

B. The petition shall be submitted in writing and shall provide:

(1) The full text of a new proposed regulation or regulations, the codification and the full text of an existing regulation or regulations proposed to be amended, indicating proposed changes, or the codification of the regulation or regulations for which repeal is sought;

(2) A statement in support of the proposal made, including:

(a) Reference to the statutory basis for the proposal, including, when appropriate, judicial and administrative interpretations of the statute or statutes in question,

(b) Specific objections to existing regulations, practices, or interpretations, and

(c) The policy considerations which support adoption of the proposal;

(3) A statement describing in detail the effect of the proposal on the interested person, including:

(a) A statement as to whether the proposal is intended to affect the tax consequences of a transaction or transactions entered into or contemplated by the interested person, its vendors, customers, clients, or other persons upon whose behalf the proposal is made, the taxability of which are known by the interested person to be the subject of an inquiry, audit, refund, or assessment proceeding in the Comptroller's Office,

(b) A statement as to whether the proposal is intended to affect the status of the interested person or other persons under any of the licensing or regulatory provisions administered by the Comptroller when it is known by the interested person that the current status of the interested person is the subject of an inquiry, inspection, investigation, or other proceeding in the Comptroller's Office, and

(c) An explanation of the circumstances surrounding the inquiry, inspection, investigation, audit, refund, assessment, or other proceeding, if any.

C. Within 60 days after submission of a petition described in §A, above, the Comptroller shall either deny the petition in writing, stating the reasons for the denial, or initiate rule-making proceedings.

D. If a petition is denied, another petition on the same topic may not be accepted by the Comptroller for review until 6 months after the date of the denial.